Best of BS Opinion: States' unhappiness index, stressed assets, and more

Topics BS Opinion

Illustration: Binay Sinha
Global forecasters are cutting their growth estimates for the Indian economy. Fitch Ratings, for example, now expects the economy to contract by 10.5 per cent in the current fiscal year, compared to its earlier estimate of 5 per cent contraction. Goldman Sachs expects the output to contract by 14.8 per cent. A sharp contraction, among other things, will affect asset quality in the banking system and make the recovery more difficult. Business Standard opinion pieces for the day, apart from other policy issues, talk about the banking sector.

While recommendations of the Kamath panel and the framework adopted by the regulator have safeguards, it will still be critical to ensure that the new facility is not used by lenders to hide bad loans, argues our lead editorial

While mergers reduce the number of public sector banks, they do not address the issue of the economic size of the sector and associated fiscal risks, writes former RBI deputy governor Viral Acharya

Centre’s proposals on settling states’ demand for GST compensation can throw up new challenges, writes A K Bhattacharya

Quote

“Hiring sentiment is the weakest since the survey began 15 years ago, remaining relatively stable when compared with the previous quarter, but declining by 16 percentage points in comparison with this time one year ago.”

ManpowerGroup Employment Outlook Survey


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel